ABI: Private medical insurance coverage rises despite recession

ABI: Private medical insurance coverage rises despite recession

ABI: Private medical insurance coverage rises despite recession

Latest ABI figures show that the number of people covered by Private Medical Insurance (PMI) continued to rise in 2008 despite the UK economy going into recession. In 2008, a total of 6,224,000 people were covered by either personal or corporate PMI, with a further 1,111,000 covered through Healthcare Trust arrangements. A total of 7,335,000 people now have some form of private health cover in the UK, an increase of 2.7% on 2007.

Nick Starling, the ABI’s Director of General Insurance and Health, said:

“The continued rise in the number of people covered by PMI is good news. PMI gives people the peace of mind that they are able to get access to the treatment they need, at the time they need it, where they need it.

“PMI is good for companies and the economy because it enables employees to get back to work after illness or injury as quickly as possible. This is why there has been a continued rise in the number of people covered by corporate policies.”

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Notes for Editors

1. Enquiries to:
Jonathan French 020 7216 7392 (Mobile: 07958 330 480)
Malcolm Tarling 020 7216 7410 (Mobile: 07776 147 667)
Erfan Hussain 020 7216 7411 (Mobile: 07712 841 184)
Kelly Ostler-Coyle 020 7216 7415 (Mobile: 07968 364 302)

2. The number of people covered by PMI rose from 6,004,000 in 2007 to 6,224,000 in 2008, an increase of 3.7%. Of this, 4,571,000 were covered by corporate policies, an increase of 5.3% on 2007, and 1,653,000 were covered by individual policies, a decrease of 0.6% on 2007.

3. 1,111,000 people were covered by Healthcare Trust arrangements in 2008, a decrease of 2.22% from 1,136,000 in 2007.

4. The ABI is the voice of the insurance and investment industry. Its members constitute over 90 per cent of the insurance market in the UK and 20 per cent across the EU. They control assets equivalent to a quarter of the UK’s capital. They are the risk managers of the UK’s economy and society. Through the ABI their voice is heard in Government and in public debate on insurance, savings and investment matters.

5. An ISDN line is available for broadcasts.

6. More news and information from the ABI is available on our web site, www.abi.org.uk.